The Nigerian government has announced plans to integrate its expatriate residence permit system with INTERPOL and other international criminal databases to strengthen security and prevent the country from becoming a refuge for global criminals. Minister of Interior, Olubunmi Tunji-Ojo, revealed at a recent forum with Nigerian business owners that the Combined Expatriate Residence Permit and Cards (CERPAC) database will be connected to INTERPOL’s systems starting May 1, 2025. This move aims to ensure that individuals with criminal backgrounds cannot obtain legal residency or work permits in Nigeria. “The message is clear. If you have a criminal record, do not apply for a CERPAC. We will detect you through our integration with INTERPOL and other criminal databases,” the Minister warned. In addition to enhancing security, the government has fully automated the CERPAC application process. Applicants will now complete forms and make payments entirely online through the Nigeria Immigration Service and Ministry of Interior websites, eliminating the need to visit banks or immigration offices in person. This streamlined system is designed to encourage compliance and reduce delays. Minister Tunji-Ojo also emphasized that employers of expatriates will be held responsible for any violations committed by their foreign workers, aligning Nigeria’s policies with international best practices. CERPAC serves as a legal residence permit for foreigners living or working in Nigeria for extended periods, typically one year or more. The permit is governed by the Immigration Act of 2015 and related regulations, which empower the Nigeria Immigration Service to issue and manage these permits. This integration with INTERPOL reflects Nigeria’s commitment to tightening border security and combating transnational crime, ensuring that the country remains safe and secure for residents and businesses alike.
FG denies reports of 80-year concession for Enugu airport, says proposals still under review
The Federal Government has dismissed widespread reports that it has agreed to an 80-year concession for the Akanu Ibiam International Airport in Enugu, clarifying that no deal has been finalized and that all proposals remain under review. In a statement released Monday, Tunde Moshood, Special Adviser on Media and Communications to the Minister of Aviation and Aerospace Development, described the reports as “baseless and untrue.” He emphasized that while the government is considering concession proposals for five major airports, including Enugu, no agreement or fixed duration has been approved yet. The Ministry explained that the review process is ongoing and involves key stakeholders such as the Infrastructure Concession Regulatory Commission (ICRC) and the Federal Executive Council (FEC). Various proposals with different terms have been submitted by prospective concessionaires, but none have received final approval. “This is a proactive measure to ensure these vital facilities can meet and maintain international standards, given the increasing financial demands of their operations,” the statement read in part. The Ministry also clarified that the airport concession initiative is not new, but a continuation of efforts by previous administrations to address financial challenges in the aviation sector. Many Nigerian airports require monthly government subsidies to remain operational, and the concession strategy aims to attract private sector investment to help these facilities meet international standards. The Ministry stated that all concession decisions will be made in the national interest and with input from all relevant stakeholders. As of now, no specific concession duration has been set for Enugu Airport or any of the other airports under consideration. The government urges the public to disregard misleading reports and assures that all developments will be communicated transparently as the process continues.
SCUML certificate not a license as CBEX crypto scam unravels – EFCC
The Economic and Financial Crimes Commission (EFCC) has issued a strong warning to the public following the collapse of the cryptocurrency investment platform, CBEX, emphasizing that possession of a SCUML (Special Control Unit Against Money Laundering) certificate does not grant any company clearance to operate in Nigeria. This clarification comes in the wake of a massive alleged fraud, with CBEX reportedly sweeping over ₦1.3 trillion from investors’ accounts before shutting down operations abruptly. The platform, which promised investors 100% returns in just 30 days, left thousands stranded and unable to access their funds after it went dark earlier this week. Many victims say they were lured into investing with CBEX after seeing the company’s registration documents, including a Corporate Affairs Commission (CAC) certificate and a SCUML certificate. Some believed these documents were proof of legitimacy, especially as CBEX claimed that its Securities and Exchange Commission (SEC) certificate would be ready by May 2025. However, the EFCC has clarified that while ST Technologies (a company linked to CBEX) was registered with SCUML, CBEX itself was not. More importantly, the EFCC stressed that a SCUML certificate is not a license or regulatory approval to operate any business, particularly in the financial or crypto sector. “SCUML Certificate Is Not CLEARANCE BY EFCC. The EFCC is not a clearing house or regulatory authority of online businesses,” the Commission said in a statement on Monday. The SCUML certificate is a statutory requirement for certain businesses—known as Designated Non-Financial Businesses and Professions (DNFBPs)—to help combat money laundering and terrorist financing. It is not, however, a substitute for sector-specific licenses or regulatory approvals, such as those issued by the SEC for investment platforms. The EFCC, already investigating CBEX before its collapse, has now partnered with INTERPOL to track down both local and foreign operators behind the scheme. The Commission has assured the public that it is committed to bringing the perpetrators to justice and recovering lost funds for victims. EFCC spokesperson Dele Oyewale noted, “We had our intelligence before the incident. We were already working on it, but now that the scheme has collapsed, the major actors and their collaborators will be brought in. We will ensure that we save Nigerians from all these troubles associated with Ponzi schemes”. The Securities and Exchange Commission had previously warned Nigerians against investing in unregistered online trading platforms, highlighting that CBEX was operating illegally and without proper registration. The CBEX saga is a stark reminder that official-looking documents are not enough to guarantee the legitimacy of an investment platform. The EFCC advises Nigerians to always verify that any financial or investment service is properly licensed by the relevant regulatory bodies before committing funds. The SCUML certificate is for anti-money laundering compliance, not a business license. CBEX was not registered with the SEC and had no clearance to operate as an investment platform. The EFCC and Interpol are actively investigating the fraud and pursuing justice for victims. Nigerians are urged to exercise caution and verify all regulatory approvals before investing. The EFCC’s investigation continues, as authorities work to unravel the full extent of the CBEX collapse and bring those responsible to book.
SEC warns influencers to verify investments or face 10-year jail for promoting ponzi schemes like CBEx
The Securities and Exchange Commission (SEC) has issued a strong warning to celebrities, social media influencers, and bloggers: promoting unregistered or fraudulent investment schemes, including notorious platforms like CBEX, now carries severe legal consequences, including up to 10 years in prison and fines of at least ₦20 million under the new Investments and Securities Act (ISA) 2025. The warning comes in the wake of the collapse of CBEX, a digital investment platform accused of defrauding Nigerians of over ₦1.3 trillion. CBEX lured investors with promises to double their funds within a month and incentivised referrals, classic hallmarks of a Ponzi scheme. The platform’s sudden inability to process withdrawals sparked panic, protests, and widespread outrage across the country. Dr. Emomotimi Agama, Director General of the SEC, emphasised that the new law specifically targets individuals who use their platforms to promote unregistered or fraudulent investment schemes. “We are, therefore, using this medium to caution individuals against promoting unregistered entities,” Agama stated, adding that the SEC is working with the EFCC, Nigerian Police, and other agencies to investigate and prosecute violators. Agama warned that “becoming influencers or introducing meme coins that do not benefit the Nigerian public will not be tolerated. We now have the legal teeth to bite,” referring to the SEC’s expanded prosecutorial powers under ISA 2025. New Law Closes Digital Asset LoopholesFor the first time, Nigerian law now recognises virtual assets as securities, bringing digital asset platforms and exchanges under SEC regulation. All such platforms must register with the Commission and comply with transparency and anti-fraud guidelines. CBEX, for example, was not registered with the SEC, making its operations illegal under the new regime. Protecting Investors and the MarketThe SEC has ramped up its surveillance and enforcement efforts, creating specialised departments to monitor market activities and swiftly respond to suspicious operations. Agama reaffirmed the Commission’s commitment to investor protection and market development, urging Nigerians to verify investment opportunities via the SEC’s official registry before investing. “If an offer sounds too good to be true, it likely is,” Agama cautioned, advising the public to consult professionals and avoid schemes promising unrealistic returns. The new ISA 2025 aims to restore investor confidence, strengthen market integrity, and ensure that Nigeria’s growing digital finance sector remains safe for all. Promoting unregistered investment schemes now carries a minimum ₦20 million fine and 10-year jail term. CBEX, which promised 100% monthly returns, is unregistered and considered illegal by the SEC. Influencers, celebrities, and bloggers are urged to verify all investment promotions and avoid endorsing dubious schemes. Nigerians are advised to always check the SEC’s registry before investing and report suspicious platforms for prompt action.
NRC extends Warri-Itakpe suspension despite repairs, implements safety measures
The Nigerian Railway Corporation (NRC) has announced that the Warri-Itakpe Train Service will remain suspended despite recent repairs to technical faults. The suspension, which began on April 10, 2025, was initially intended to last 72 hours following multiple engine failures that raised safety concerns. In a statement released over the weekend, NRC explained that while engineers have resolved the core issues, additional time is needed to implement safety redundancies and system upgrades. These measures are aimed at ensuring the long-term reliability of the service and aligning operations with global safety standards. NRC Managing Director, Dr. Kayode Opeifa, emphasized the importance of these extra precautions: “Although the major technical problems have been fixed, we require more time to put in place necessary safeguards that will support sustainable and safe operations.” Passengers affected by the suspension are entitled to full refunds or can choose to revalidate their tickets for future travel. The NRC has made these options available online, through customer service, and at railway stations. This latest disruption follows a series of challenges for the Warri-Itakpe line, including a technical fault in February 2025 and a derailment near Ujevwu, Delta State, in July 2024, which led to temporary service halts. The NRC has thanked passengers for their patience and assured the public that the service will resume as soon as these critical safety upgrades are completed. Passengers are encouraged to stay updated through official NRC communication channels. Safety and operational reliability remain the corporation’s top priorities as it works to restore full service on this vital rail corridor.
UN raises alarm, Asian cybercrime syndicates go global, fueling surge in online scams and human trafficking
The United Nations has sounded a stark warning about the explosive global spread of Asian cybercrime syndicates, whose operations have evolved from regional scams into a vast, multibillion-dollar criminal industry now reaching Africa, South America, and beyond. A new UN report reveals that these syndicates, originally rooted in Southeast Asia’s notorious “Golden Triangle” region, have become increasingly sophisticated, harnessing cutting-edge technology like artificial intelligence, deepfakes, and malware to supercharge their online scams and evade law enforcement. The result: an underground cybercrime economy generating up to $3 trillion a year worldwide, according to Interpol, an unimaginable scale just a decade ago. These criminal networks lure thousands of people from around the world with fake job offers, only to traffic them into guarded compounds in countries like Myanmar, Cambodia, and Laos. There, victims are forced to work brutal hours running online scams, including investment fraud and “pig-butchering” romance scams that have cost Americans alone billions in losses. The syndicates have rapidly diversified, recruiting workers from over 50 countries and targeting victims across continents. Their operations are so entrenched that even major crackdowns in Asia have simply pushed them to new, less regulated regions, including parts of Africa and South America, where they partner with local criminal groups to expand money laundering and fraud. Tech-Powered, Harder to StopExperts warn that the integration of generative AI and deepfakes is making these scams more convincing and harder to detect, lowering the barrier for less tech-savvy criminals to join in. Social engineering attacks are becoming more frequent and sophisticated, threatening individuals, businesses, and even critical infrastructure worldwide. UN officials are calling for urgent international cooperation and stronger laws to disrupt these syndicates’ financing and recruitment, warning that the crisis now rivals the scale and complexity of the global drug trade. “What began as a regional crime threat in Southeast Asia has become a global human trafficking crisis, with millions of victims, both in the cyber scam centres and as targets,” said Interpol Secretary General Jurgen Stock.